To estimate the Net Debt / EBITDA ratio for Acea S.P.A. at the end of 2022 using the standard S&P methodology, we first calculate the necessary components:

**1. EBITDA Calculation:**
EBITDA is typically defined as Profit/Loss from Operating Activities + Depreciation & Amortization + Impairment.
*   Profit/Loss from Operating Activities (2022): 565,851,000 EUR
*   Adjustments for Depreciation and Amortisation (2022): 594,636,000 EUR
*   Adjustments for Impairment (2022): 67,680,000 EUR
*   **EBITDA (2022) = 565,851,000 + 594,636,000 + 67,680,000 = 1,228,167,000 EUR**

**2. Net Debt Calculation:**
Net Debt is calculated as (Current Financial Liabilities + Noncurrent Financial Liabilities) - (Cash and Cash Equivalents).
*   Noncurrent Financial Liabilities: 4,722,263,000 EUR
*   Current Financial Liabilities: 619,418,000 EUR
*   Total Financial Debt = 4,722,263,000 + 619,418,000 = 5,341,681,000 EUR
*   Cash and Cash Equivalents (Continued Operations): 559,908,000 EUR
*   **Net Debt = 5,341,681,000 - 559,908,000 = 4,781,773,000 EUR**

**3. Ratio Calculation:**
*   Ratio = Net Debt / EBITDA
*   Ratio = 4,781,773,000 / 1,228,167,000 ≈ 3.8934

(Note: The data provided contains specific line items for financial liabilities, and the calculation adheres to the consolidated financial positions at the end of the 2022 reporting period/start of 2023).

<answer>3.8934</answer>